Charts for the Day

[Dai Thompson]

Axis bank is below 200 SMA...but the pivoting around this zone of 480-85 is crucial appearing from chart analysis...

It may be a future decider zone for stock in coming months...

You do make a valid point here:thumb: Very brilliantly put. Nice!

 

[phoenixbird]

Sir,

your views for PINCON SPIRITS

thanks

 

[anil_s_trivedi]

Sir,

your views for PINCON SPIRITS

thanks

Momentum setup on stock is shaping up nicely...Never traded in this scrip...Keep trailing stoploss...

I will cautious if closes below 65 on weekly...

 

[manoj2012]

GAIL ...... 410 ....

Traded on new 52 Week High value 410.95

Anilji GAIL could not sustain high of 410 ...... pull back to 401.75 (nse closing value)

do you see it as a valid break out ..?

 

[newuser_RK]

Anilji GAIL could not sustain high of 410 ...... pull back to 401.75 (nse closing value)

do you see it as a valid break out ..?

Just to add to the Gail discussion, anilji how would you take an entry? Would you wait for monthly candle to close above 400 or on a strong weekly close above 400 you will enter?

Sent from my AO5510 using Tapatalk

 

[ravi2126]

ZEEL D n W chart....515-10 looks good sp ...on daily + rsi hidden divergence...

2% up today...looks like this time it will clear hurdle of 550...lets see

 

[newuser_RK]

Anilji GAIL could not sustain high of 410 ...... pull back to 401.75 (nse closing value)

do you see it as a valid break out ..?

Coromondal is also showing similar patterns on monthly TF

Sent from my AO5510 using Tapatalk

 

[anil_s_trivedi]

Anilji GAIL could not sustain high of 410 ...... pull back to 401.75 (nse closing value)

do you see it as a valid break out ..?

Yes...breakout is going as per it should be, if closing was towards high it would be better...volume was above avg, thats good thing...

Are you planning to enter this stock or just entered yesterday with moment you observed it...if its so, then its poor planning...

Once i posted chart, you should have studied as per your method...whats your stoploss and where's your entry should be...

Once this much homework done, many doubts just disappear...as you know where you will cover if you had been wrong in the trade...

 

[anil_s_trivedi]

Just to add to the Gail discussion, anilji how would you take an entry? Would you wait for monthly candle to close above 400 or on a strong weekly close above 400 you will enter?

Sent from my AO5510 using Tapatalk

As i told here in this thread earlier, i had many lesser trades trading 52 weeks highs...as i am just getting accustomed to it...

For classical trader like me, my favourite is always pulling towards key MA's...here it has given opportunity towards 50SMA...If one missed there, then small consolidation breaks after that...

I had commented here in this thread earlier...if one is entering breakout trades...initial conditions get formed, by price forming basing just below breakout levels...and that is more safer entry for those who fear to go at ATH...

 

[manoj2012]

Yes...breakout is going as per it should be, if closing was towards high it would be better...volume was above avg, thats good thing...

Are you planning to enter this stock or just entered yesterday with moment you observed it...if its so, then its poor planning...

Once i posted chart, you should have studied as per your method...whats your stoploss and where's your entry should be...

Once this much homework done, many doubts just disappear...as you know where you will cover if you had been wrong in the trade...

As i told here in this thread earlier, i had many lesser trades trading 52 weeks highs...as i am just getting accustomed to it...

For classical trader like me, my favourite is always pulling towards key MA's...here it has given opportunity towards 50SMA...If one missed there, then small consolidation breaks after that...

I had commented here in this thread earlier...if one is entering breakout trades...initial conditions get formed, by price forming basing just below breakout levels...and that is more safer entry for those who fear to go at ATH...

Anilji ....

That's Dilemma ..... during break outs .... there is gaining momentum .....

often post breakouts .... pull back happens(sometimes) and also does not happen (sometimes) and stocks just fly away ...... as it happened in case of Ashiyana Housing / Jet Airways /Raymonds /KEC. ...... On the other hand stock like IOC is now consolidating after breakout ....

In case of Gail .... there seems to be relatively slower momentum after break out ....

I am novice ... dont have well defined system as yet ....

Normally I enter after confirmation of breakout with SL just below previous resistance ...which should now act as support ....

The dilemma of taking a conservative trade at zone of consolidation just below break out is that .... break out may happen or may be not ...

what happened in GAIL is I took trade after breakout .... since 400 was previous resistance broken my SL was at 399.... Gail went high to 310.75 ... thereafter at that level price rejection happened and it fell upto 398 ... thereby just taking out my SL ... in what was then seeming like breakout failure .... but by EOD it just improved to 401.75 ... marginally above Earlier Resistance .... even today now it is trading at 397.

I am as yet still just observing ... not planning fresh trade... as this Stock is confusing me